Here are the highlights from the Featured Expert column:

    Portfolio Update from April 23rd

    J2 Reports Strong Quarter

J2 Global Communications (NASDAQ:JCOM) on Monday (4/19) reported financial results for the first quarter that exceeded expectations. J2 reported that revenues increased by 51% to $22.9 million compared with $15.2 million in the year ago quarter. GAAP net income for the quarter was $0.25 versus $0.20 in the corresponding quarter, an increase of 25%. With the company expecting EPS of $1.00 - $1.15, the stock currently traded with a PE of 22 - 25-times 2004 guidance. Ian Wyatt believes shares of j2 remain attractive given this PE, especially when you consider that the company's top line is expanding at 50%. J2 is the clearly defined leader in the fax-to-e-mail space, and should continue to dominate and benefit from the expansion of this market.

@Road Reports First Quarter Results

On Thursday @Road (NASDAQ:ARDI) announced first quarter financial results. Revenues for the quarter increased 30% to $17.90 million, an increase of 4% over the fourth quarter. Service revenues were $14 million, an increase of 32%. The company ended the first quarter with cash and short term investments of $108 million. Net income for the quarter was $3.1 million or $0.05 per share versus a net loss of $1.3 million or $0.03 per share. Consensus estimates now call for 2004 EPS of $0.27, and expect that number to grow by 81% in 2005 to $0.49, while sales are expected to expand by 37% from 2004 to 2005. With @Road shares trading at less than $9, Wyatt believes this is an excellent opportunity to pickup shares on the cheap.

MIND CTI Revenues Grow 42% & Strong Quarter

On Monday (4/19) telecom billing company MIND CTI (NASDAQ:MNDO) announced first quarter financial results. Revenues increased 42% to $4 million, a sequential increase of 10%. Net income for the quarter was $1.34 million, or $0.06 per share, a significant increase over net income of $883,000 or $0.04 per share in the first quarter of 2003. On an EPS basis, this represents growth of 50%. If he assumes flat EPS for all of 2004, Wyatt arrives at $0.20. With shares trading at $5 and change, he arrives at a PE of 26, which appears very reasonable for a company with solid revenue growth, a significant cash position, and growing earnings.

Bentley Pharmaceuticals Wins Lawsuit With Merck

On Monday (4/19) Bentley Pharma (AMEX:BNT) announced that the company prevailed in a lawsuit brought against it by Merck & Co., Inc. The lawsuit centered on Bentley's production and marketing of a generic version of Merck's Zocor, and sought a recovery of lost revenues. Merck claimed that Bentley subsidiary Laboratorios Belmac violated law by utilizing several of Merck's process patents. Spain's generic drug market is robust and is emerging as one of the better overseas markets with increasing competition and demand propelling companies like Bentley to new heights.

iMergent Closes on $3 million Loan Agreement

iMergent (OTC:IMGG) announced on Tuesday (4/20) that the company closed on a $3 million loan agreement with Zions First National Bank. This deal should allow the company to further drive growth, specifically in iMergent's continuing expansion into international markets. Wyatt welcomes this loan agreement and he looks forward to the long-term benefits that increasing revenues per contract will bring to iMergent.

Read more of Ian Wyatt's information on the above-mentioned companies, and get his insight on several other positions in his portfolio by clicking: http://at.zacks.com/?id=85

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